The Hill
US · 2 hrs ago
✦ 72◉ Centre
K-shaped economy is showing up at the gas pump: NY Fed
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Accuracy 72/100
Partisan intensity 35/100
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◉ Centre ✓ Fair headline
The New York Federal Reserve reports that rising gas prices are causing low-income households to reduce fuel consumption while wealthy households maintain stable purchasing patterns, exemplifying the widening economic divide known as a K-shaped economy.
K-shaped economy is showing up at the gas pump: NY Fed
Low-income households are cutting back on gas as prices surge, while wealthier households remain largely unfazed.
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